Orocobre Quarterly Report of Operations for Period ending 30 June 2017

Jul. 21, 2017 08:48AM PST

Orocobre (TSX:ORL) announces its quarterly report of operations for period ending 30 June 2017. As quoted in the press release: As at 30 June 2017, Orocobre Group had available cash of US$51.5 million, up from US$30.6 million at 31 March 2017. This follows the release of Standby Letters of Credit (SBLCs) of US$21.2 million (ORE’s share) back to the Company during the …

Orocobre (TSX:ORL) announces its quarterly report of operations for period ending 30 June 2017.
As quoted in the press release:

As at 30 June 2017, Orocobre Group had available cash of US$51.5 million, up from US$30.6 million at 31 March 2017. This follows the release of Standby Letters of Credit (SBLCs) of US$21.2 million (ORE’s share) back to the Company during the quarter
Orocobre completed the sale of exploration tenure at Salinas Grandes to LSC Lithium Limited (TSXV: LSC) and received US$4 million. A further US$3 million will be paid in three annual tranches
Inflation during FY17 has been 11% higher than the corresponding devaluation of the ARS peso against the USD which has resulted in higher costs at Borax Argentina SA and to a lesser extent SDJ

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